Company A purchased inventory for $100,000. In addition they had purchase returns of $7,000 and paid freight-in of $8,000.Company A's net purchases would be:

Name: Company A purchased inventory for $100,000. In addition they had purchase returns of $7,000 and paid freight-in of $8,000.Company A's net purchases would be:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Net purchases are calculated as the total purchases minus purchase returns plus any additional costs such as freight-in. Therefore, $100,000 - $7,000 + $8,000 = $101,000.

Company a Purchased Inventory for $100,000